Saturday, 28 September 2013

The act of saving money is a
worthwhile endeavor that allows you to be able to afford certain things like
gadgets, clothing, food, and many more. It also gives you a sense of value. In
building your sense of value, you are also growing as an individual capable of
achieving many things. You are also instilling in yourself a sense of delayed
gratification in saving money for a goal that you want to reach. May it be a
long overdue vacation or a pricey gadget, the only way you are going to be able
to do this is by saving.

Set up a Direct Savings Account

In setting up a direct to savings
account, you are constantly putting hard earned money from your paycheck
directly to a savings account. It will require you to be a bit frugal in yourlifestyle as you will not have enough cash on hand to spend but by doing this,
your savings account constantly grows.

By having minimum cash on hand due
to most of your earnings going straight to the savings account, you will still
have some cash to spend. This will mean that you must be smart in choosing what
to spend on.

You must also remember that there is a reason why you are saving.
In having a reason, you will feel very motivated to continue being smart about spending
the cash that you have. It is a great example of the end justifying the means
as you will get gratification in being able to go on holiday or to buy that
high tech gadget that you have been dreaming about. So go and create that straight
to savings account so that you may achieve your heart’s desire.

Wednesday, 21 August 2013

The latest reports that banks and lenders have increased the
funds available for repaying mis sold PPI to over £18billion – a truly
staggering amount – simply serve to confirm that this is a scandal that has not
gone away. Indeed, many more people are making claims as the public becomes
increasingly aware of the right to get back the fees on mis sold policies. The
Financial Ombudsman, which deals with disputes between lenders and consumers,
has reported a slight decrease in the numbers of people claiming, but still
handles over 2000 cases each day.

Biggest Scandal of
All Time

The payment protection insurance (PPI) scandal has been
called the worst of all time to hit the UK finance industry, and rightly so:
over a course of many years, several million people were sold policies that
were either of no use to them or that they did not want, and a recent ruling by
the High Court means all fees on so-called mis-sold PPI policies must be repaid
to the customer. With the three biggest banks in the UK – Lloyds Banking Group,
RBS and Barclays – heading the list of names involved it is clear that
mis-selling has been widespread throughout the industry.

Calculating the
Payment

The average PPI payment is currently around £3000, but there
have been many that were considerably more; the amount in each case is
determined by the individual circumstances, as well as the size and type of
credit agreement concerned. The added awareness that has come with all the
publicity has led to many people using websites with an online PPI calculator, such as PPI Claims Advice Line to get an idea of how much they may be awarded. This
is a convenient way of an advance warning, but must only be taken as an
estimate.

An Ongoing Saga

One notable aspect of the scandal has been a fall in
confidence on the part of the consumer; the man on the street no longer trusts
the financial industry after discovering it has been selling products outsidethe regulations. It remains to be seen how – or if – this can be restored any
time in the near future.

Differentiating what you want and need may be a really difficult
endeavor, especially if you are a compulsive
shopper. In
being a compulsive shopper you have a weakness in
wanting to shop. A good way to save
on money is
to shop in places that have
sales and discounted prices.
This will go a very long way in saving
you some money as
the clothes, gadgets and other items are cheaper than originally priced. It is
a best of both worlds situation that you are able to obtain what you desire and
save a little money while spending.

Look For
Sales

Looking for places that have sales and bargained prices are an efficient way to save money. It is a way for you to be able to
buy certain items while saving
money as
those items are cheaper than originally priced. You may also get selected items
at a buy-one-take-one rate which will allow you to
have more than you planned for. You will be able to give these buy-one-take-one items as a gift for your loved one,
friend, or family member.

In shopping in places that are on
sale, the money that you
save may be
used for a vacation fund that you may use to visit places and countries that
you have never been to before. You will be able to experience the various cultures and wonders that the country
has to offer. It is a worthwhile endeavor that will allow you to discover more
about yourself as well as the country that you visit because you mind and
outlook becomes different when you visit other countries. You become a more cultured person as you save from buying in places that have sales and discounted prices.

Tuesday, 2 July 2013

There are various ways to save money which
can make all the difference between living beyond your means and living well.
Therefore, there can be no doubt that saving money has desirable consequences.
To be in debt is not a positive state of affairs and this can lead to much
decline and problems. To stay financially secure means that you have to be wise
in your spending habits.

Here are some tips for saving money.

Use Cash Rather Than Credit Cards

Credit cards are the best way for companies
to make money. You need to make sure that you use cash instead as this can
boost your chances of spending less. You need to be able to use credit cardsonly for limited purchases.

Make a List of Essential Items

Make a list of the basic necessities that
you need to purchase and ensure that you do not go beyond a certain list of
items. There is no doubt that sticking to your basic essentials will enable you
to spend your money wisely.

Limit Your Spending

Make sure that you spend wisely and do not
live beyond your means. This is the key to saving money. There is very little
emphasis on how to save money nowadays. Heightened consumerism has glorified spending
on excessively fancy items. To counter this mindset, you need to be more proactive in limiting your spending.

There can be no doubt that saving money is
a key to living well. If you spend beyond your means, then you will definitely
not be able to do anything about improving your living standards. Living in
debt is a terrible problem. You need to be able to avoid this if you want to
live a happy and comfortable life.